• GBP/ AUD fell deeper into negative territory on Friday as iron-ore and equity gains drop helped buoy Australian dollar.
• At GMT 17:52, the pair was trading down 0.54 percent at 1.8993 after reaching daily high at 1.9113.
• Bear are on course to force a daily close under 23.6%fib support,that would open the pathway to much bigger losses towards 1.8900 level.
• Technical signals show the pair could lose more ground in the short-term as RSI is at 31,while moving averages and MACD are trending lower.
• Immediate resistance is located at 1.9085(9DMA), any close above will push the pair towards 1.9119(38.2%fib).
• Immediate support is seen at 1.8970(23.6%fib) and break below could take the pair towards 1.8905(Lower BB).
Recommendation: Good to sell around 1.9000, with stop loss of 1.9180 and target price of 1.8900
